John William McCormack Quotes
They work in secrecy. I can't get any information. You can't find out anything until they get out to the floor. And it's hard to lick em at that stage. They're a closed corporation. When they stick together, you can't lick em on the floor.
Patents, copyrights, and franchises are but 3 common (and legal) ways of obtaining a onopoly position.See Adam Smith {627790} for a similar thought.
This is an important quotation because Ellison, one of the best businessmen in the world is also much more candid than most others. Here he admits that he strives to achieve monopoly status for his company. Almost all large businesses try to become monopolies so that they do not have to compete on price, quality, and service. Few will admit publicly that much of their effort goes towards an objective that is detrimental to the nation and society and in is in large part illegal.
When Bulgaria transformed from a Communist nation to a free market, competitive economy, most of the Bulgarian businessmen assumed that the competition was to get a favored position with the government and have the government then interfere with their competitors or some other government organized advantage for them as opposed to better products, better prices, better marketing. Ironically, there are still a few areas where the modern American system is much like Bulgaria was. Local telephone and electric monopolies are two of the worst.
John William McCormack was an American politician from Boston, Massachusetts. An attorney and a Democrat, McCormack served in the United States Army during World War I, and afterwards won terms in both the Massachusetts House of Representatives and Massachusetts State Senate before winning election to the United States House of Representatives.
